Posts Tagged “opec”

Iran signed a multibillion dollar deal on Monday with French oil giant Total and Chinese state oil company CNPC to further develop the country’s giant South Pars Gas Field in cooperation with Iran’s Petropars. The first major Western energy investment since sanctions against Tehran were lifted will cost up to $5 billion, with production expected…

South Korea‘s intake of Iranian crude oil soared to a record high in March and its first-quarter crude imports from Iran nearly doubled on year, reflecting Tehran’s efforts to raise output after the lifting of sanctions early last year. The increase in volumes since international sanctions against Tehran were lifted in January 2016 has made…

A senior Oil Ministry official said Iran is boosting oil production by 90,000 barrel per day in line with last year’s OPEC agreement. “We are increasing our oil output which will reach the designated production level,” Gholamreza Manouchehri, National Iranian Oil Company’s (NIOC) deputy head for engineering and development affairs told IRNA. On November 30,…

Iranian petroleum Minister Zanganeh, while evaluating current oil market conditions as satisfactory, said the country’s oil revenues will mount to 41 billion dollars in the present Iranian year. Speaking to an IRIB TV, Bijan Zanganeh touched upon roots of the halt in gas imports from Turkmenistan while highlighting that the volume of gas purchase from…

Iran’s deputy petroleum minister says Tehran’s total crude oil and condensate sales reached around $30 billion in the first 9 months of the current calendar Persian year which started on March 20. “Iran’s crude and condensate exports surpassed 2.8 million barrels per day (bpd) in December 2016,” Amir Hossein Zamaninia said on Saturday. Iran exported…

Iran sold its light crude oil at $46.6 per barrel in the week ended on December 2, with $1.84 rise from its previous week, IRNA reported on Monday. Iran’ light oil price stood at $40.12 on average since the beginning of 2016 until December 2. The country also sold its heavy crude oil at $45.37…

Minister of Petroleum Bijan Zangeneh said on Thursday as of next year, 10 billion dollars will be added to Iran’s oil income. In a televised interview, Zangeneh outlined Iranian oil diplomacy achievements, which excluded Iran from OPEC output freeze plan. Iran’s output will be 3.797 million barrels per day per an agreement reached in the…

The Organization of the Petroleum Exporting Countries (OPEC) says Iran’s oil production has reached a new record high of 3.665 million barrels per day (mb/d). OPEC in a monthly report said it had recorded Iran’s new oil production capacity for September. The country’s production in August stood at 3.634 mb/d, the Organization added in its…

Managing Director of National Iranian Oil Company Ali Kardor said on Monday that NIOC has been able to achieve the target of four million bpd output in the wake of lifting the sanctions. He made the remarks in his speech to a group of the Petroleum Ministry officials. Kardor said that Iran has been able…

Iran’s August crude oil exports jumped 15 percent from July to more than two million barrels per day (mbd), according to a source with knowledge of its tanker loading schedule, closing in on Tehran’s pre-sanctions shipment levels of five years ago. The No. 3 OPEC producer has more than doubled its crude exports, excluding the…